RE: Tomorrow23 Nov 2018 10:14
Thats a decent sum-up of yours, @hash!
@Ronin1,
good man, I beg you, I'm in ten different plays right now, and I simply don't have that much time for general discussion! But while you are asking... "What evidence do you have of this? I haven't seen one shareholder with a notifiable interest declare a notification showing that they have sold down."
"KAZ Minerals shares drop on deal to buy copper project in Baimskaya, Russia for US$900mln:
Credit Suisse has downgraded KAZ Minerals PLC (LON:KAZ) to ‘Neutral’ from ‘Outperform’ while UBS and JP Morgan Cazenove cut their target prices for the firm following its deal to buy a copper project in Baimskaya in Russia. In a note to clients, Credit Suisse said the purchase meant that its original preference for the FTSE 250 miners’ “low-cost operations driving strong [free cash flow]” had been “turned on its head” by the deal, which meant capital expenditure would remain “very elevated for the next 8 years and…FCFs will remain negative over the period driving net debt up”.
The bank also cut its target price to 630p from 1,050p saying that with the project “completely undeveloped” and the political risks of the area, they were not confident on “significant long-term value in the project”. Meanwhile, analysts at UBS slashed their target price for KAZ to 660p from 940p, citing the “long-dated and execution/country risks” as being elevated.” proactiveinvest
The market has NOT been convinced about this deal.
I have not been convinced about this deal.
Are you convinced of a good outcome of this deal?
Some months ago I received a notification from Credit Suisse and was alerted. Around that time half a dozen friends in CH wrote they were selling-off KAZ Minerals.
I assume that many private investors in the UK have done exactly the same, since 900, 800 and 700p.
Of course some ii's are still holding.
Of course bigboss Kim is still holding 33%.
Of course your Barclays probably still has a stake in there.
But a large number of mid- or large-size PIs have SOLD their Kaz shares, they were unconvinced about the russian deal and moreover alerted about dropping copper prices. This is why we are not 1000, but 500p.
The share price speaks the truth.